Village at Westland Cove
Multifamily property in Knoxville, TN · sponsored by Capital Square
Village at Westland Cove was a DST sponsored by Capital Square that owned a multifamily property in Knoxville, TN (240 units). Its last Form D was filed Jun 8, 2022.
How it ended
No outcome recorded · under 7 years
Last Form D filed Jun 8, 2022.
Key facts
- Minimum investment
- $50,000From the Form D
- Offering size
- $52,810,000Equity offered, per the Form D
- Sold
- Not reported after the first Form D (Jun 8, 2022)Form D, Jun 8, 2022
- Selling commissions
- Form D Item 15; the % is our arithmetic$4,488,850 · 8.5% of offering
- Financing
- Not in the Form D. The Form D for this offering does not say whether it carries mortgage debt.How it is financed ↓
- Offered under
- Rule 506(c)May be advertised publicly. Every buyer’s accredited status must be verified.
Figures come from SEC Form D filings unless a source is cited. Sponsor-stated figures are as reported by the sponsor; Top1031 does not independently audit them. On a 45-day clock? Find day 45 and day 180 →
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Ask a 1031 specialist about this recordFree. About: Village at Westland Cove. Top1031 is not a broker-dealer.Village at Westland Cove · Knoxville, TN · Photo: stonerivercompany.com
What did Village at Westland Cove own?
The community stands at 9635 Westland Cove Way, off Interstate 140 on the shore of Fort Loudoun Lake in west Knoxville, Tennessee. 2 Capital Square announced on June 6, 2022 that it had acquired the Class A garden-style property, completed in 2019, on behalf of this Trust. 2 Knox News later listed the purchase as an $87 million deal recorded on May 24, 2022 — an independent account rather than a primary record. 4
- Reported location
- Knoxville, TN
- Property size
- 240 units; 28.2 acres; average unit size 1,147 sq. ft.; floorplans up to 1,521 sq. ft
How was it financed, and what did it cost to sell?
Capital Square's offering materials describe assumable financing — the existing mortgage carried forward on its original terms — plus a supplemental loan to be obtained at closing. 1 No dollar amount of debt appears in the sponsor materials or the SEC record, so the Trust's leverage level is not established publicly.
Debt
- Financing
- Not in the Form D. The Form D for this offering does not say whether it carries mortgage debt.
Costs and terms from the Form D
- Selling commissions
- $4,488,850 · 8.5% of offering
- Finders’ fees
- $0
- Paid to officers, directors and promoters
- $2,221,110 · 4.2% of offeringForm D Item 16
- Broker-dealers named in the Form D
- 1 named in the Form D
Show the firms
- Wealthforge Securities, LLC · CRD 152550
Individual representatives named in Item 12 are not listed.
- Date of first sale
- Not in the Form D
- Minimum investment
- $50,000
Form D Item 15 and Item 16 amounts may be the issuer’s estimates; each percentage is Top1031’s arithmetic on two Form D figures. Item 16 can overlap Item 15, so Top1031 does not add them together. The issuer marked these amounts as an estimate.
Who's behind Village at Westland Cove?
Capital Square Realty Advisors sponsored the Trust and named itself the acquirer of the community in its June 6, 2022 announcement. 2 The firm runs a broad 1031 exchange DST platform alongside its other real estate programs. Its portfolio page now lists this Trust among closed offerings, without attaching a sale date, price or full-cycle result to it. 3 No dated sale, exit or other material event for this Trust surfaced in public sources through August 2026.
- Sponsor
- Offerings on record
What does the SEC record show?
The Trust's SEC record consists of the initial Form D — the short notice a private placement files after its first sale — lodged two days after Capital Square announced the acquisition, with no amendment ever following. 2 Rule 506(c) let the sponsor market the offering publicly, provided each investor's accredited status was verified.
- Legal Trust name
- CS1031 Village at Westland Cove Apartments, DST
- SEC CIK
- 1932950
- First Form D
- Jun 8, 2022
- Latest Form D
- Jun 8, 2022
- Filings on record
- 1
- Offered under
- Rule 506(c)May be advertised publicly. Every buyer’s accredited status must be verified.
- Source filing
SEC Form D filings, newest first
| Filed | Form | Offering amount | Amount sold | Filing on SEC EDGAR |
|---|---|---|---|---|
| Form D | $52,810,000 | $0 | EDGAR |
Amounts, investor counts and minimums are as filed with the SEC on Form D. The change lines are Top1031’s arithmetic between consecutive filings; a new Form D notice starts a new count.
A Form D is the notice a sponsor files when it starts raising money. A Form D filing does not mean the SEC approved, endorsed, or verified the offering.
Common questions
- What happened to Village at Westland Cove?
- Village at Westland Cove is a Historical offering. Last Form D filed Jun 8, 2022.
- What was the minimum investment?
- Capital Square's June 6, 2022 acquisition release stated a $50,000 minimum investment for accredited investors — those meeting the SEC's income or net-worth tests. The same minimum appears in the Trust's Form D.
- How was the property financed?
- Capital Square's offering page states the offering featured assumable financing at a 2.60% interest rate maturing in November 2030, and that the sponsor would obtain a supplemental loan at closing. No debt dollar amount is disclosed in the sponsor materials or the SEC filing, so the loan-to-value cannot be established from public sources.
- Who runs the apartments day to day?
- The Trust does not operate the property itself. Capital Square's offering page states that the master tenant collects rent and operates, manages, leases and maintains the property, that beneficial owners must rely completely on it, and that the sponsor is under no obligation to contribute capital to the master tenant. No public source retrieved names that master tenant or the on-site manager.
- Is there a 721/UPREIT exit?
- Nothing in the SEC record or Capital Square's materials for this Trust indicates a planned 721 exchange — a contribution of the property to a REIT's operating partnership in return for OP units instead of cash. The data here records no REIT conversion feature for this offering.
In the news
Sources
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DST interests are illiquid private securities. You may lose some or all of your investment. Distributions, tax treatment, and exit timing are not guaranteed. Review the current offering documents before investing.